 So you figure, enacted by former President Trump in 2017, the law drastically overhauled the nation's tax code, right? The Trump tax cuts, including reducing top individual income taxes from 37% bracket down to 30, excuse me, down from 39.6% to 37% and nearly doubling the size of the standard deduction. Well, remember, the standard deduction impacts people whether they make more or less than $400,000 anyway.